Markets

Govt bonds slip, call rates turn higher

Mumbai: Government bonds (G-Secs) slipped on selling pressure from banks and corporates, while, the overnight call money rates turned higher due to good demand from borrowing banks amid tight liquidity in the banking system.

The 7.17 per cent 10-year benchmark bond maturing in 2028 declined to Rs 96.45 from Rs 96.5875 previously, while its yield edged up to 7.69 per cent from 7.67 per cent.

The 6.79 per cent government security maturing in 2027 dipped to Rs 93.03 from Rs 93.10, while its yield inched up to 7.86 per cent from 7.85 per cent.

The 6.68 per cent government security maturing in 2031 went-down to Rs 89.5825 from Rs 89.6450, while its yield marginal up to 7.95 per cent from 7.94 per cent.

The 6.84 per cent government security maturing in 2022, the 8.20 per cent government security maturing in 2022 and the 8.40 per cent government security maturing in 2024 were also quoted lower to Rs 97.56, Rs 102.62 and Rs 102.98 respectively.

The overnight call money rates finished higher at 6.05 per cent from last Friday's closing level of 5.85 per cent. It resumed higher at 6.05 per cent and moved in a range of 6.05 per cent and 5.70 per cent.

Meanwhile, Reserve Bank of India, under the Liquidity Adjustment Facility, purchased securities worth Rs 36.15 billion in 5-bids at the overnight repo auction at a fixed rate of 6.00 per cent today morning, while it sold securities worth Rs 176.43 billion in 57-bids at the 3-days reverse repo auction at a fixed rate of 5.75 per cent as on February 23.

Original Article

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